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dc.contributor.authorV. Rasiah, R. Ratneswary-
dc.contributor.authorHabibullah, Muzafar Shah-
dc.contributor.authorAbdul Hamid, Baharom-
dc.date.accessioned2017-09-15T07:08:51Z-
dc.date.available2017-09-15T07:08:51Z-
dc.date.issued2015-
dc.identifier.citationV. Rasiah, R. Ratneswary, Habibullah, Muzafar Shah & Abdul Hamid, Baharom. (2015, June 2-4). The impact of income, inflation and happiness on stock returns: a dynamic heterogeneous panel estimation. Paper presented at the 17th Malaysian Finance Association Conference, Kota Kinabalu, Sabah, Malaysia.en_US
dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/2667-
dc.description.abstractThis study examines the long-run relationships and short-run dynamic interactions between stock returns and its determinants comprising of GDP per capita, inflation and happiness, over the period 1973 to 2012. The study applies the dynamic heterogenous panel estimation techniques of Mean Group (MG), Pooled Mean Group (PMG) and the Dynamic Fixed Effects (DFE) to analyse a set of macro panel data on selected OECD countries to establish the possible causal relations between these variables. The results of this study show evidence that income has a favourable impact on the stock market, while inflation dampens stock returns. Interestingly, the study also revealed that happiness is not significant in determining stock returns in these selected countries, indicating that the market participants are rational economic beings who always act in self-interest, making optimal decisions by trading off costs and benefits weighted by statistically correct probabilities as per the tenets of the Efficient Market Hypothesis (EMH).en_US
dc.languageEnglish-
dc.language.isoenen_US
dc.subjectStock returnsen_US
dc.subjectGDP per capitaen_US
dc.subjectInflationen_US
dc.subjectHappinessen_US
dc.subjectPooled-mean groupen_US
dc.titleThe impact of income, inflation and happiness on stock returns: a dynamic heterogeneous panel estimation-
dc.typeAcademic Proceedingen_US
ikr.topic.maintopicConventional financeen_US
ikr.topic.subtopicConventional economicsen_US
ikr.doctypeScholarly Works-
Appears in Collections:Academic Proceeding


There are no files associated with this item.
Full metadata record
DC FieldValueLanguage
dc.contributor.authorV. Rasiah, R. Ratneswary-
dc.contributor.authorHabibullah, Muzafar Shah-
dc.contributor.authorAbdul Hamid, Baharom-
dc.date.accessioned2017-09-15T07:08:51Z-
dc.date.available2017-09-15T07:08:51Z-
dc.date.issued2015-
dc.identifier.citationV. Rasiah, R. Ratneswary, Habibullah, Muzafar Shah & Abdul Hamid, Baharom. (2015, June 2-4). The impact of income, inflation and happiness on stock returns: a dynamic heterogeneous panel estimation. Paper presented at the 17th Malaysian Finance Association Conference, Kota Kinabalu, Sabah, Malaysia.en_US
dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/2667-
dc.description.abstractThis study examines the long-run relationships and short-run dynamic interactions between stock returns and its determinants comprising of GDP per capita, inflation and happiness, over the period 1973 to 2012. The study applies the dynamic heterogenous panel estimation techniques of Mean Group (MG), Pooled Mean Group (PMG) and the Dynamic Fixed Effects (DFE) to analyse a set of macro panel data on selected OECD countries to establish the possible causal relations between these variables. The results of this study show evidence that income has a favourable impact on the stock market, while inflation dampens stock returns. Interestingly, the study also revealed that happiness is not significant in determining stock returns in these selected countries, indicating that the market participants are rational economic beings who always act in self-interest, making optimal decisions by trading off costs and benefits weighted by statistically correct probabilities as per the tenets of the Efficient Market Hypothesis (EMH).en_US
dc.languageEnglish-
dc.language.isoenen_US
dc.subjectStock returnsen_US
dc.subjectGDP per capitaen_US
dc.subjectInflationen_US
dc.subjectHappinessen_US
dc.subjectPooled-mean groupen_US
dc.titleThe impact of income, inflation and happiness on stock returns: a dynamic heterogeneous panel estimation-
dc.typeAcademic Proceedingen_US
ikr.topic.maintopicConventional financeen_US
ikr.topic.subtopicConventional economicsen_US
ikr.doctypeScholarly Works-
Appears in Collections:Academic Proceeding


There are no files associated with this item.